Technology is an improved route to an unimproved target. Technology is associated with innovation. It involves the transformation of ideas into something useful. Innovation is just not limited to creative people and organizations, but also involves the availability of technological and scientific talent. Technology and innovation are synergistic. Technology has definitely changed our lives and for the better.Looking back in time, we realize how much our lives have changed due to the fruits of technology. It has provided us with freedom and less consumption of time and resources. Pointing out a particular technology for the drastic changes in one’s life is simply not possible. A nation’s economic growth can be measured according to the level of technology. This is because a number of factors are responsible for affecting an individual’s life style. The most important factor for deciding the working of a particular technology is the presence of competition. One kind of technology seems beneficial only until a technological advancement does not occur.The most effective piece of technology is the mobile phone, and now a days being equivalent to a civilization. Due to technological changes, the dependency upon technology has increased many folds. Some advancement occurs at such a pace that they become self-defeating. The ability to convert carbon dioxide into fuel energy is a breakthrough process and once well established in would change our dependency on nonrenewable and limited sources.With time, the use of internet is rising rapidly. The World Wide Web literally connects over 700 million people round the globe. The state-of-the-art technology has improved our means of communication as well as our educational standards. Due to the innovations in technology, an individual can gain knowledge about any topic at any place and at any point of time in his/her life. It has allowed the ease of availability of education. It has also improvised upon ways to fulfill our needs and to meet our expectations. Innovations in today’s tech-world can help us to solve urgent problems.The revolution in technology has given rise to chat rooms, discussion rooms, personalized web pages and online databases. The IT sector has completely changed the outlook of human communication with e-mails, video conferencing and instant messaging. With the advent of technology, people are building bridges to decrease the distances in their mind. One basic drawback that has taken place is that people are becoming lethargic due to high trends in technology. It is shortening our ability to pay attention. Robotics, automation and computerization are on the go for changing our lives. Implementation of robotics will give higher efficiency and cheaper labor, thereby increasing unemployment rate.Now the other side of technology is not so green. It is because of improvised technology only that we have seen nuclear and atomic wars. This has also leaded to increase in pollution as well as corruption. Hence, one must know how to balance between manpower and automation. In the world of automation, cars have created freedom as well as concrete jungle. Technology is affecting our near future so it becomes our responsibility to streamline it in the right direction.